The global Security and Vulnerability Management Market size is expected to grow from USD 12.5 billion in 2020 to USD 15.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period. Security and vulnerability management solutions can be deployed on-premises as well as on the cloud, as per business requirements. The on-premises deployment mode allows organizations to control all the systems and data. Still, they also must pay the cost for hardware, software, and other resources used for its maintenance. It also restricts the storage capacity that is needed to maintain new functionalities and technologies. Cloud-based deployment benefits organizations with increased scalability, speed, 24/7 services, and improved Information Technology (IT) security. The demand for Software-as-a-Service (SaaS)-based security solutions is rapidly growing, as the central delivery model meets the IT security needs. Owing to the increasing number of applications being deployed over the cloud, there is a shift from traditional on-premises security and vulnerability management solutions to cloud-based security and vulnerability management solutions across large enterprises and Small and Medium-sized Enterprises (SMEs).
By target, the content management system vulnerabilities segment to hold the largest market size in 2020
Content management systems are typically used for defining, sourcing, integrating, storing, and effectively retrieving, and reconciling massive amounts of documents. Content management system vulnerabilities are being increasingly exposed to exploitations due to the growing traction of these systems used across large enterprises to manage their voluminous content on daily basis. On the other hand, growth of digitalization, eCommerce, Bring Your Own Device (BYOD), and Work From Home (WFH) practices have increased the amount of content generated in inter- and intra-organizations. The advent of globalization and internet age has made the world a smaller place and has given rise to digital enterprises. The content generated can be regarded as the backbone for this digital transformation. These trends are expected to spur the adoption of security and vulnerability management solutions and services over the forecast years.
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By deployment mode, the cloud segment to grow at a higher rate during the forecast period
The cloud-based deployment mode provides organizations with benefits, such as increased scalability, speed, 24/7 services, and improved IT security. The demand for Software as a Service (SaaS)-based security solutions is rapidly increasing, as the central delivery model meets IT security needs. The cost-effectiveness and scalability of the cloud deployment mode are expected to boost the growth of cloud-based security and vulnerability management solutions. Owing to the increasing number of applications being deployed in the cloud, there is a shift from the traditional on-premises security and vulnerability management solutions to cloud-based security and vulnerability management solutions across large enterprises and Small and Medium-sized Enterprises (SMEs).
The major vendors covered in the security and vulnerability management market include IBM (US), AT&T (US), Qualys (US), McAfee (US), Rapid7 (US), RSA (US), Tenable (US), F-Secure (Finland), Acunetix (Malta), SkyBox Security (US), Brinqa (US), Check Point (Israel), NopSec (US), Tripwire (US), Digital Defense (US), RiskIQ (US), Kenna Security (US), Outpost 24 (Sweden), Expanse (US), and RiskSense (US). These players have adopted various growth strategies, such as new product launches, business expansions, partnerships, agreements, and collaborations, and acquisitions, to further expand their presence in the global security and vulnerability management market. These strategies have helped them innovate their offerings and broaden their customer base.
Rapid7 was founded in 2000 and is headquartered in Massachusetts, US. The company is one of the prominent providers of security data and vulnerability management solutions. It further offers advanced solutions in the areas of network security, application security, operations and analytics, and compliance. It provides cybersecurity solutions to various industry verticals, such as energy, financial services, government, healthcare, retail, and education. The company’s customer base comprises approximately 9,000 customers that are spread across 144 countries, in regions, such as North America, Europe, Middle East and Africa (MEA), Asia Pacific (APAC), and Latin America. The company caters to customers across verticals, such as technology, energy, financial services, healthcare and life sciences, manufacturing, media and entertainment, retail, education, real estate, transportation, government, and professional services. Rapid7 operates through three major business segments: products, maintenance and support, and professional services. The products segment includes vulnerability management, application security testing, orchestration, and log management. The company offers maintenance and support services for its solutions and provides professional services to secure organizations from Advanced Persistent Threats (APTs) and vulnerabilities.
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Tenable was established in 2002 and is headquartered in Columbia, US. The company has a presence in over 20 countries across the Americas, Europe, Middle East and Africa (EMEA), and APAC. It provides cyber exposure solutions to private companies and government organizations for managing their cybersecurity risks, prioritizing threats, and reducing exposure and losses. The company caters to industry verticals, such as finance, healthcare, retail, education, and energy. Tenable filed to go public in June 2018 under the ticker symbol TENB, listed on NASDAQ. The company offers its solutions across vulnerability management, legacy vs. risk-based vulnerability management comparison, IT/Operational Technology (OT), application security, cloud security, and compliance. The company mapped five cyber exposure phases to its risk-based vulnerability management. The five stages are to discover, assess, prioritize, remediate, and measure. Tenable provides organizations a way to measure security effectiveness by aligning security metrics with business objectives. The company offers proactive measurement, analysis, and visualization of security metrics through customizable dashboards, reports, and the industry’s first Assurance Report Cards (ARCs), and effectively measures the security assurance.
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